Candor Resources will operate its online LNG platform. Based on the duration of the contracts that can be traded on Candor Resources platform, we have assessed that Candor Resources does not require approval under the Commodity Trading Act as a commodity market dealing in “commodity forward contracts” and that even if the contracts traded on its online LNG platform were to fall under the definition of “spot commodity trading” in the CTA, it is exempt from licensing as a spot commodity broker.

Members are also reminded to assess for themselves and if necessary consult their own professional advisers as to whether they are required to hold any licence under the CTA and whether they may rely on any licensing exemptions in the Schedule to the CTA.

Joining Candor Resources

Membership of Candor Resources is open to companies or partnerships that buy or sell physical cargoes of LNG.